Good Sunday everyone!
Those who follow us probably noticed that most of the forecasts published in our telegram channel turned out to be correct, especially for bitcoin. Today we will digress a little from the cryptocurrency market, in the sense that the asset under consideration, by which we will determine the prospect of further movement, is silver.
Perhaps some of you managed to notice that bitcoin and silver have a fairly high correlation between themselves, nevertheless, since mid-October there has been a discrepancy, bitcoin rushed to the heights, to conquer new heights, coming close to its historical highs, and silver hung sideways …
Earlier this year, there was already a moment when bitcoin showed an outstripping dynamics, in late April-early May, and silver only a month later broke up from consolidation.
Maybe history will repeat itself, and we will soon see an upward momentum in Silver? It is very possible, because the seasonal factor is also on the side of the bulls for this precious metal, based on observations over the past 25 years, it is November-December that is the best period for buying silver, and February-March and August for selling.
I consider the upward breakdown of local resistance – $ 26 as confirmation of the idea
We’ll see, time will tell, but in the conditions of unbridled monetary stimulation from the world central banks, I will definitely not consider shorts.